Posted by: Timothy Ellis (The Tim)

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

4 responses to “Poll: What is the chance the housing tax credit gets extended/expanded?”

  1. Sid

    There is absolutely no need to extend it. V shaped recovery is here. ECRI (who I believe to be one of the best forecaters out there) just came out with a very bullish statement.
    The only thing that worries me now is that the media and the general population is slowly starting to turn from being “gloom and doom”ish to bullish. We are still climbing the wall of worry however the time to get out of equity markets is near.

    ECRI Link1

    ECRI Interview

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  2. AMS

    RE: Sid @ 1 – There is absolutely no need to much of what Congress does, but that does not stop them.

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  3. Scotsman

    RE: Sid @ 1

    There are millions of reasons to extend and expand any government program- votes and money. They may not get your vote, or your money, but there are enough people on the other side of the boat to tip it their way. As for your other prognostications:

    “ECRI… just came out with a very bullish statement……. however the time to get out of equity markets is near.

    You don’t see any conflict ? Things are either going to get better, or they’ll get worse. Take a stand, man- hang it out there. I’m still voting for worse. Here are a couple of reasons ECRI may have missed:

    “WASHINGTON (MarketWatch) — U.S. banks are reducing their lending at the fastest rate on record, tightening the credit squeeze and threatening to leave many otherwise viable businesses unable to borrow money to expand their businesses, meet their payroll or refinance their maturing debts.

    According to weekly figures provided by the Federal Reserve, total loans at commercial banks have fallen at a 19% annual rate over the past three months, while loans to businesses have dropped at a 28% annualized pace. ”

    “Zillow estimated that nearly one in four homes with mortgages was worth less than the value of the (mortgage) at the end of June. Mr. Humphries said he didn’t expect to see foreclosure volumes level off until later in 2010.

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  4. Matsayswhat

    It’s going to be interesting to see what the discussion is like regarding extending it and how much media coverage it gets versus healthcare, the wars, etc.

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